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British retailers believe that Brexit without a deal will lead to higher prices for products and their shortage in stores, BBC reports. The British retail consortium expressed these concerns in a letter signed by Sainsbury, Asda, Lidl supermarkets, retailer Marks & Spencer and fast food chains McDonald’s and KFC. In the letter, retailers remind that a third of the products on the shelves of British stores come from the EU. Most of the seasonal vegetables sold in Britain in March are grown in the European Union. If a country leaves the EU without an agreement, the supply chain will be broken. It is impossible to store perishable goods in warehouses, retailers say, although they have already filled their freezers in anticipation of Brexit. The warehouses at military bases are already filled with food, fuel and ammunition in case of Brexit without a deal. A voting must be on January 29 that will determine the future of the UK. The first voting in the House of Commons, agreed upon by Teresa May with Brussels, failed. If the parties fail to conclude an agreement, Britain will withdraw from the European Union without an agreement on future relations, including trade.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
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